In 2022, Hines acquired 466 Devon Park Drive, a 155,200-square-foot GMP rated lab facility in Wayne, Pennsylvania, a suburb of Philadelphia.
Renovated in 2018, the property boasts 22’ clear heights as well as two loading doors and three drive-ins providing impressive functionality. Additionally, a new amenity center was added to 466 Devon Park Drive providing tenants with a cafeteria, conference space and a state-of-the-art fitness facility. The building is fully leased to Charles River Laboratories (NYSE: CRL), an early-stage contract research company providing drug discovery, non-clinical development, and safety testing services to clients.
Located on 10 acres in the highly desirable King of Prussia/Wayne submarket, the facility is strategically positioned along the Route 202 corridor and features superior local and regional access to the area’s busiest roadways, including Routes 422 and 202, The Pennsylvania Turnpike (I-276) and Interstates 76 and 476. 466 Devon Park Drive, benefits from its position in the greater Philadelphia MSA, which has the largest concentration of healthcare in the country with over 120 hospitals, 200 pharmaceutical and biotechnology firms and 135 medical manufacturers throughout the region.